20 Best Dividend Growth Stocks with High Yields

4. United Parcel Service, Inc. (NYSE:UPS)

Dividend Yield as of May 13: 6.84%

United Parcel Service, Inc. (NYSE:UPS) ranks fourth on our list of the best dividend growth stocks with high yields. The American multinational shipping and supply chain management company is one of the world’s largest organizations. The company offers a wide array of comprehensive logistics services to clients across over 200 countries and regions worldwide.

In the first quarter of 2025, United Parcel Service, Inc. (NYSE:UPS) reported revenue of $21.5 billion, compared with $21.7 billion in the same period last year. The revenue exceeded analysts’ estimates by $496.7 million. The company reported consolidated operating profit of $1.7 billion in the first quarter, reflecting a 3.3% increase year-over-year and a 0.9% rise on an adjusted non-GAAP basis. In the US segment, revenue rose by 1.4%, supported by gains in air cargo and a 4.5% uptick in revenue per piece, which helped counterbalance lower volumes. The adjusted operating margin for the segment stood at 7.0%.

United Parcel Service, Inc. (NYSE:UPS) generated $2.3 billion in operating cash flow, and its free cash flow amounted to $$1.48 billion. Due to this consistent cash generation, the company has been able to raise its payouts for 23 consecutive years. It offers a quarterly dividend of $1.64 per share and has a dividend yield of 6.84%, as of May 13.